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Before we begin, let me explain some of the terminologies of this passive income world. There are 2 types of passive income: Lively and Residual. If youre planning to earn some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be successful if you manage to construct a source of residual income. Residual income is the form of income in which you earn a monthly commission for the sale youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. About 30% of Aversity Gold Masterclass members earn residual incomes from products theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or even a service. The main difference between residual and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from your sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The greatest passive income stream is one which gives you both residual and busy income and were going to speak about a few approaches to make that kind of incomes online.
The number 1 is the very dangerous number in the realm of business. Building a passive income stream that pays you in one supply or a business that's getting most of its visitors and earnings from one platform can be terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can destroy your entire business overnight.
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Before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to begin with the simplest passive income plan, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, usually percent 5 to 50% depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we will discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. These are specific applications that arent usually open for everyone. We'll explore different top ticket affiliate programs as we move down into this article.
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I could write an entire post to address this issue in the online business world. If you stick to a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which may provide you the impression that you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes time but with the right strategy, your journey wont be as painful as mine was. When I started my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be fast.
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To answer the long terms question: How much money you can earn in 6 months, I will need to go over different business strategies since if you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
